How Can Financial Advisors Increase Efficiency With Outsourced Paraplanning?

March 25, 2022 0 Comments

Outsourced paraplanning can be very useful for improving administrative management and the accurate completion of financial planning tasks. Paraplanning Services has been around for a while, but outsourcing paraplanning is still gaining popularity due to the many benefits. Let’s look at why outsourcing paraplanning can be more efficient than hiring in-house planners.

An Outsourced Paraplanner

Outsource paraplanning services perform almost the same tasks as an in-house paraplanner. The following would be a broad classification:

Compliance Issues

As per your requirements, research for providers and investments.

Critical Reports Preparation

Paraplanners can also handle many other processes and areas. They are highly qualified and trained professionals who can help clients manage their financial records.

Paraplanning Services That You Can Outsource

Paraplanners can easily access a wide range of services. Let’s look at a few of the services offered by PJM Paraplanning.

Pre SOA (Service Oriented Architecture)

Our experts will ensure your company can access the best pre-SOA services according to your needs. This includes sending authorities and life insurance calculations to institutions, risk assessment, life insurance calculations, quote preservation, cash flow scenario/modelling, preparation of comparison reports, etc.


Our SOA services are focused on preparing and maintaining statements of advice documents. This includes all the complexity and detail required to produce accurate and informative SOAs.

Post SOA

Our professional paraplanners provide post-SOA services. They prepare SOA implementation packages and offer advice. This allows financial planners to be more productive and frees them up to concentrate on more profitable tasks.

Why Outsourced Paraplanning Services?

Outsourcing paraplanning has many benefits, not only the cost savings for the paraplanner but also the potential to save money on the paraplanner. Here are a few of the most important reasons.

Better Flexibility:

Outsourced paraplanning companies allow you more flexibility in your business. This is because they can quickly scale up or down resources depending on the workload. In-house paraplanning is not always as efficient.

Saving Time:

Paraplanners who are outsourced can be accessed quickly to take advantage of the time difference.

Saving Money:

You can save money by outsourcing paraplanning professionals in many ways. Outsourced paraplanners are not subject to appraisals every year. Instead, they will negotiate only once a few years.

Save On Overhead Costs:

Outsourced paraplanners will help you save money on overheads, such as rent, staffing, IT, and paid leave.

A Larger Talent Pool:

Paraplanning outsourcing gives you more access to a more extensive skill set. Paraplanners from different backgrounds and software can work together in a team, something not possible for an in-house paraplanner.

Reduce Employee Churn With:

Outsourcing paraplanning work is a smart move. It allows you to avoid the headache of training employees who may only be using paraplanning to help them advance their careers. Paraplanners looking to be financial advisors tend to have a high turnover rate. An outsourcing paraplanning company can help you avoid this.

PJM Paraplanning takes the most excellent care to understand the needs of each client and tailors its services accordingly. We have dedicated professionals who can assist with financial planning administration tasks in addition to our experienced team of paraplanners. We often assign paraplanners or financial planning assistants to clients. They are trained in client processes and business styles, making them an extension of our client’s staff.